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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Data
 
Quarter
2015:
First (a)
 
Second (b)
 
Third (c)
 
Fourth (d)
 
Total
Net sales
$
1,425.7

 
$
1,454.3

 
$
1,470.8

 
$
1,390.9

 
$
5,741.7

Gross profit
277.0

 
317.6

 
328.3

 
285.0

 
1,208.0

Income from operations
157.1

 
197.6

 
219.4

 
175.9

 
750.0

Net income
90.8

 
114.0

 
127.8

 
104.3

 
436.8

Basic earnings per share
0.92

 
1.16

 
1.31

 
1.07

 
4.47

Diluted earnings per share
0.92

 
1.16

 
1.31

 
1.07

 
4.47

Stock price - high
84.88

 
78.98

 
73.60

 
70.04

 
84.88

Stock price - low
73.03

 
62.48

 
58.29

 
59.54

 
58.29

 
Quarter
2014:
First (e)
 
Second (f)
 
Third (g)
 
Fourth (h)
 
Total
Net sales
$
1,431.3

 
$
1,468.4

 
$
1,518.9

 
$
1,434.0

 
$
5,852.6

Gross profit
301.4

 
310.8

 
320.3

 
297.0

 
1,229.5

Income from operations
160.9

 
180.2

 
188.4

 
173.2

 
702.7

Net income
90.1

 
99.6

 
104.4

 
98.5

 
392.6

Basic earnings per share
0.92

 
1.01

 
1.06

 
1.00

 
3.99

Diluted earnings per share
0.92

 
1.01

 
1.06

 
1.00

 
3.99

Stock price - high
75.10

 
72.74

 
72.82

 
80.14

 
80.14

Stock price - low
61.35

 
65.00

 
63.11

 
57.06

 
57.06

____________
Note: The sum of the quarters may not equal the total of the respective year’s earnings per share on either a basic or diluted basis due to changes in the weighted average shares outstanding throughout the year.
(a)
Includes $10.3 million of DeRidder restructuring charges ($6.6 million after-tax or $0.07 per diluted share) and $3.5 million of integration-related and other costs ($2.2 million after-tax or $0.02 per diluted share). Also includes a $3.6 million tax credit from the State of Louisiana related to our recent capital investment and the jobs retained at the DeRidder, Louisiana mill.
(b)
Includes $1.0 million of income from DeRidder restructuring ($0.7 million after-tax or $0.01 per diluted share) and $3.7 million of integration-related and other costs ($2.3 million after-tax or $0.03 per diluted share). Gross profit has been revised to correct an error in the previous presentation totaling $6.0 million reclassified from "Selling, general, and administrative expenses" to "Cost of Sales" for the three months ended June 30, 2015.
(c)
Includes $3.8 million of income from DeRidder restructuring ($2.3 million after-tax or $0.02 per diluted share) and $2.4 million of integration-related and other costs ($1.7 million after-tax or $0.02 per diluted share). Also includes $6.7 million gain from the sale of our paper mill site at St. Helens, Oregon ($4.4 million after tax or $0.05 per diluted share).
(d)
Includes $3.5 million of income from DeRidder restructuring ($2.2 million after-tax or $0.02 per diluted share) and $3.8 million of integration-related and other costs ($2.6 million after-tax or $0.03 per diluted share).
(e)
Includes $17.6 million of costs accrued for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit ($11.2 million after-tax or $0.11 per diluted share), $4.1 million of integration-related costs ($2.6 million after-tax or $0.03 per diluted share), and $4.0 million of DeRidder restructuring charges ($2.6 million after-tax or $0.02 per diluted share).
(f)
Includes $17.8 million of DeRidder restructuring charges ($11.2 million after-tax or $0.12 per diluted share) and $4.9 million of integration-related and other costs ($3.0 million after-tax or $0.03 per diluted share).
(g)
Includes $26.0 million of DeRidder restructuring charges ($16.6 million after-tax or $0.17 per diluted share) and $4.5 million of integration-related and other costs ($2.9 million after-tax or $0.03 per diluted share).
(h)
Includes $18.0 million of DeRidder restructuring charges ($11.7 million after-tax or $0.12 per diluted share) and $6.4 million of integration-related and other costs ($4.2 million after-tax or $0.04 per diluted share).